Brazil: number of blockchain startups 2020, by segment
As of November 2020, a total of 181 blockchain startups operated in Brazil. Financial services accounted for nearly half (90 startups) of blockchain companies in the South American country. In 2020, global spending on blockchain solutions is projected to reach 4.1 billion dollars.
What is blockchain?
Blockchain could be seen as a type of database where information is stored in blocks and connected in chronological order by cryptographic technology. Its use has been increasing during the last years, mostly by the financial sector, as a transactions record. In 2018, the banking industry alone accounted for nearly one third of the blockchain market value worldwide. However, this technology has also spread to social sectors like healthcare, where it is projected a 55% blockchain adoption rate for commercial development by 2025.
Cryptocurrency
Perhaps the most popular use of blockchain is cryptocurrency, a digital asset based on blockchain technology and used as a medium of transaction. Here, Bitcoin stands as the most popular and second most expensive virtual currency globally. Since 2014, the size of the Bitcoin blockchain has skyrocketed, reaching over 306 gigabytes as of December 2020.
What is blockchain?
Blockchain could be seen as a type of database where information is stored in blocks and connected in chronological order by cryptographic technology. Its use has been increasing during the last years, mostly by the financial sector, as a transactions record. In 2018, the banking industry alone accounted for nearly one third of the blockchain market value worldwide. However, this technology has also spread to social sectors like healthcare, where it is projected a 55% blockchain adoption rate for commercial development by 2025.
Cryptocurrency
Perhaps the most popular use of blockchain is cryptocurrency, a digital asset based on blockchain technology and used as a medium of transaction. Here, Bitcoin stands as the most popular and second most expensive virtual currency globally. Since 2014, the size of the Bitcoin blockchain has skyrocketed, reaching over 306 gigabytes as of December 2020.
